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Finance: What would you call it? |
I owe about $1,200 dollars for a education class and $1,400 to the department of revenue, both are not charging interest. Would you call it a debt or would you call it a liability? Debt and liablity mean the same thing, interest rate doesn't come into play. They are debts and your liabilities. Both you are in debt to it and you best know you are liable to pay or something will happen. |
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